Market equilibrium rates of interest are rarely expected to approximate efficient interest rates between willing transactors of exchange.

Name: Market equilibrium rates of interest are rarely expected to approximate efficient interest rates between willing transactors of exchange.
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Question

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Market equilibrium rates of interest are expected to approximate efficient interest rates because they reflect the balance between supply and demand for funds among willing transactors in a competitive market.

Market Equilibrium Rates of Interest Are Rarely Expected to Approximate